Fluoropolymers Market Size, Share, Growth Analysis Report, 2032

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Fluoropolymers possess excellent properties such as chemical resistance, weather stability, low surface energy, low coefficient of friction, and low dielectric constant. These properties come from its special electronic structure of the fluorine atom, the stable carbon-fluorine covalent bonding, and the unique Intra and intermolecular interactions between fluorinated polymers. Due to fluoropolymer’s unique physical and chemical properties, they are widely applied in the electrical, construction, chemical, and automotive industries.

The worldwide fluoropolymer market is primarily driven increasing demand for the fluropolymer from various end user applications. Fluoropolymers exhibit properties superior to other polymeric substances and rubber which makes them ideally suitable for a wide range of applications, especially applications demanding extreme environments such as high chemical resistance, weldability, mechanical strength, high-temperature stability, etc. Automotive and transportation industry is the largest end user application for fluoropolymers. The increasing tendency towards lower vehicle weight, lower emissions, and enhanced fuel efficiency is expected to drive the consumption growth of fluoropolymers in the automotive and transportation industry. However, stringent government regulations regarding the fluoropolymers production and usage may hold back the market growth.

The global fluoropolymers market is segmented based on product, application, and region. On the basis of product, market is segmented into PTFE, PVDF, FEP, and fluoroelastomers.  PTFE segment was the leading product segment accounting for the significant share in the overall fluoropolymers market in 2016 owing to its enhanced wear resistance and chemical stability properties. Polyvinylidene difluoride (PVDF) is expected to witness the fastest growth in the forecast period. PVDF has been used in the architectural coating industry, the wire and cable industry and the chemical industry for pumps, bearings, and valves. Heat-shrinkable tubing made from PVDF is utilized in the aerospace, aircraft, and electronics. The commercial PVDF products include Kynar from Arkema, Solef from Solvay, and Neoflon PVDF from Daikin. On the basis of application fluoropolymer market is segmented into automotive & transportation, electrical & electronics, chemical processing, and industrial equipment applications. In 2016, industrial applications dominated the global fluoropolymers market.

Asia-Pacific was the largest regional segment in the fluoropolymers market in 2015 followed by North America and Europe. This growth is mainly attributed to rising demand from the automotive industry.  North America is second in terms of demand for fluoropolymers. A large portion of this region’s fluoropolymers demand comes from the industrial processing for PTFE segment. The growth rate of fluoropolymers demand is expected to slow down in North America and Europe, owing to a relatively saturated market and the growing concerns over environmental safety.

Key players operating in the fluoropolymers market include Daikin Industries Limited, E.I. Dupont DE Nemours & Company, Solvay SA, Asahi Glass Co. Ltd., Arkema SA, 3M Company, Dongyue Group Ltd, Gujarat Fluorochemicals Ltd. (GFL), Halopolymer Ojsc, Honeywell International Inc., Kureha Corporation, and Saint-Gobain. Daikin, DuPont, Asahi Glass Company, Solvay Solexis, 3M Company and Honeywell dominated fluoropolymers market share in 2016. This market is characterized by new product innovations and strategic partnerships with end users.